Reported Earnings • May 10
Full year 2025 earnings: EPS and revenues miss analyst expectations Full year 2025 results: ر.س1.90 loss per share (further deteriorated from ر.س0.26 loss in FY 2024). Revenue: ر.س244.3m (down 4.8% from FY 2024). Net loss: ر.س206.6m (loss widened ر.س178.8m from FY 2024). Revenue missed analyst estimates by 3.4%. Earnings per share (EPS) also missed analyst estimates significantly. Revenue is forecast to grow 18% p.a. on average during the next 2 years, compared to a 6.2% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 95 percentage points per year, which is a significant difference in performance. Announcement • Jan 05
Al Jouf Cement Company Appoints Bakr bin Atef Sindi as Managing Director, Effective January 4, 2026 Al Jouf Cement Company announced the issuance of a Board of Directors decision to revoke a previous decision that canceled the position of Managing Director and to reinstate the position within the approved organizational structure. The Board of Directors also decided to appoint Engineer Bakr bin Atef Sindi as the Managing Director of the company, effective from January 4, 2026. This decision comes as part of the Board's keenness to enhance governance efficiency, elevate the level of executive oversight, and achieve a balance between executive and supervisory powers, contributing to improving operational performance and supporting the achievement of the company's strategic objectives in the best interest of the shareholders. Engineer Bakr bin Atef Sindi has more than twenty-five years of professional experience in the fields of institutional transformation, governance, supply chains, and strategic planning. He holds a Bachelor's degree in Mining Engineering from King Abdulaziz University and has held leadership positions in several industrial and financial entities, in addition to his previous memberships on multiple boards of directors. Membership Start Date: December 31, 2025. Reported Earnings • Nov 17
Third quarter 2025 earnings released: EPS: ر.س0.12 (vs ر.س0.092 in 3Q 2024) Third quarter 2025 results: EPS: ر.س0.12 (up from ر.س0.092 in 3Q 2024). Net income: ر.س13.5m (up 35% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Reported Earnings • Aug 14
Second quarter 2025 earnings released: ر.س0.22 loss per share (vs ر.س0.075 profit in 2Q 2024) Second quarter 2025 results: ر.س0.22 loss per share (down from ر.س0.075 profit in 2Q 2024). Revenue: ر.س69.2m (down 11% from 2Q 2024). Net loss: ر.س23.4m (down 388% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 21% per year, which means it is significantly lagging earnings. Announcement • Jun 05
Al Jouf Cement Company, Annual General Meeting, Jun 29, 2025 Al Jouf Cement Company, Annual General Meeting, Jun 29, 2025, at 20:00 Arab Standard Time. Location: riyadh Saudi Arabia Reported Earnings • May 02
Full year 2024 earnings released: ر.س0.26 loss per share (vs ر.س0.78 profit in FY 2023) Full year 2024 results: ر.س0.26 loss per share (down from ر.س0.78 profit in FY 2023). Revenue: ر.س256.5m (down 15% from FY 2023). Net loss: ر.س27.7m (down 133% from profit in FY 2023). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Board Change • Feb 10
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Abdul Bin Suleiman Al -Aoudan was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س12.90, the stock trades at a trailing P/E ratio of 19.7x. Average trailing P/E is 21x in the Basic Materials industry in Saudi Arabia. Total loss to shareholders of 11% over the past three years. New Risk • Nov 25
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (currently running at an operating cash loss). Minor Risk Large one-off items impacting financial results. Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: ر.س0.09 (vs ر.س0.27 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.09 (down from ر.س0.27 in 3Q 2023). Revenue: ر.س74.9m (down 5.8% from 3Q 2023). Net income: ر.س10.0m (down 65% from 3Q 2023). Profit margin: 13% (down from 37% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 101% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. New Risk • Aug 23
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (8.1% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.4% per year for the foreseeable future. Reported Earnings • Aug 18
Second quarter 2024 earnings released: EPS: ر.س0.07 (vs ر.س0.18 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.07 (down from ر.س0.18 in 2Q 2023). Revenue: ر.س78.0m (up 15% from 2Q 2023). Net income: ر.س8.13m (down 60% from 2Q 2023). Profit margin: 10% (down from 30% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.7% p.a. on average during the next 3 years, compared to a 6.3% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 99% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Jul 16
Now 20% overvalued Over the last 90 days, the stock has fallen 8.6% to ر.س10.60. The fair value is estimated to be ر.س8.82, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 9.5% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 13% in 2 years. Earnings are forecast to decline by 29% in the next 2 years. Reported Earnings • May 27
First quarter 2024 earnings released: EPS: ر.س0.11 (vs ر.س0.22 in 1Q 2023) First quarter 2024 results: EPS: ر.س0.11 (down from ر.س0.22 in 1Q 2023). Revenue: ر.س82.0m (up 17% from 1Q 2023). Net income: ر.س12.5m (down 47% from 1Q 2023). Profit margin: 15% (down from 33% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.9% p.a. on average during the next 3 years, compared to a 6.4% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • May 18
Al Jouf Cement Company, Annual General Meeting, Jun 06, 2024 Al Jouf Cement Company, Annual General Meeting, Jun 06, 2024, at 19:15 Arab Standard Time. Location: riyadh Saudi Arabia New Risk • May 13
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (11% operating cash flow to total debt). Earnings are forecast to decline by an average of 1.7% per year for the foreseeable future. Reported Earnings • Apr 04
Full year 2023 earnings released: EPS: ر.س0.78 (vs ر.س0.28 in FY 2022) Full year 2023 results: EPS: ر.س0.78 (up from ر.س0.28 in FY 2022). Revenue: ر.س301.5m (up 20% from FY 2022). Net income: ر.س84.7m (up 174% from FY 2022). Profit margin: 28% (up from 12% in FY 2022). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 18
Third quarter 2023 earnings released: ر.س0.14 loss per share (vs ر.س0.05 profit in 3Q 2022) Third quarter 2023 results: ر.س0.14 loss per share (down from ر.س0.05 profit in 3Q 2022). Net loss: ر.س14.6m (down 346% from profit in 3Q 2022). Over the last 3 years on average, earnings per share has increased by 51% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 23
Second quarter 2023 earnings released: EPS: ر.س0.18 (vs ر.س0.016 loss in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.18 (up from ر.س0.016 loss in 2Q 2022). Revenue: ر.س68.0m (up 37% from 2Q 2022). Net income: ر.س20.1m (up ر.س21.9m from 2Q 2022). Profit margin: 30% (up from net loss in 2Q 2022). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Jun 12
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 5.2% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (5.2% operating cash flow to total debt). Earnings have declined by 30% per year over the past 5 years. Reported Earnings • May 31
First quarter 2023 earnings released: EPS: ر.س0.22 (vs ر.س0.033 in 1Q 2022) First quarter 2023 results: EPS: ر.س0.22 (up from ر.س0.033 in 1Q 2022). Revenue: ر.س70.3m (up 44% from 1Q 2022). Net income: ر.س23.5m (up ر.س19.9m from 1Q 2022). Profit margin: 33% (up from 7.3% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Reported Earnings • Apr 12
Full year 2022 earnings released: EPS: ر.س0.28 (vs ر.س1.39 loss in FY 2021) Full year 2022 results: EPS: ر.س0.28 (up from ر.س1.39 loss in FY 2021). Revenue: ر.س251.9m (up 11% from FY 2021). Net income: ر.س30.9m (up ر.س181.9m from FY 2021). Profit margin: 12% (up from net loss in FY 2021). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 5 non-independent directors. Independent Chairman Abdullah bin Ouda Al-Anazi was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 01
Third quarter 2022 earnings released: EPS: ر.س0.055 (vs ر.س0.04 in 3Q 2021) Third quarter 2022 results: EPS: ر.س0.055 (up from ر.س0.04 in 3Q 2021). Revenue: ر.س74.1m (up 35% from 3Q 2021). Net income: ر.س5.94m (up 60% from 3Q 2021). Profit margin: 8.0% (up from 6.7% in 3Q 2021). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 03
Second quarter 2022 earnings released: ر.س0.016 loss per share (vs ر.س0.079 profit in 2Q 2021) Second quarter 2022 results: ر.س0.016 loss per share (down from ر.س0.079 profit in 2Q 2021). Revenue: ر.س49.5m (down 7.9% from 2Q 2021). Net loss: ر.س1.73m (down 121% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 7.6%, compared to a 11% growth forecast for the Basic Materials industry in Saudi Arabia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 93 percentage points per year, which is a significant difference in performance. Announcement • Sep 02
Al Jouf Cement Company Appoints Mr. Saud Bin Abdullah Al Bawardi as A Member of the Audit Committee Al Jouf Cement Company appointed Mr. Saud bin Abdullah Al Bawardi as a member of the Audit Committee starting from Sep. 1, 2022. Mr. Saud bin Abdullah Al Bawardi has long experience in executive management and board membership in a number of private and listed companies, including a member of the Board of Directors in Zain Company, Vice Chairman of the Board of Directors and a member of the Audit Committee of the National Gypsum Company. He also served as a member of the Board of Directors and membership of the Committee Executive and Audit Committee of Yaqeen Capital (Falcom Capital). He holds a master-s degree in business administration (international management) from Zurich, Switzerland, a bachelor-s degree in media from King Saud University, and a brief master-s in communications. Announcement • Aug 30
Al Jouf Cement Company Announces Board Resignations Al Jouf Cement Company announced the approval of its board of directors for the resignation of two members of the board of directors Mr. Saad bin Amash Al-Shamri and Mr. Talal bin Othman Al-Muammar due to personal reasons. Resignation effective date is August 29, 2022. Announcement • Aug 17
Al Jouf Cement Company Announces Resignation of Jamal Bin Salem Al Amer as CEO, Effective August 21, 2022 Al Jouf Cement Company announced that Eng. Jamal bin Salem Al Amer resigned as CEO. Date of acceptance of resignation is August 16, 2022. Effective Date of Resignation is August 21, 2022. Announcement • Jul 26
Al Jouf Cement Co. Announces Appointment of Abdullah bin Ouda Al-Ghabeen Al-Anazi A Board Member Al Jouf Cement Company announced the approval of the Board of Directors by passing on 25 July, 2022 on the decision to appoint Eng. Abdullah bin Ouda Al-Ghabeen Al-Anazi as a (independent) member of the Board of Directors in the vacant seat for the current session, which ends on 05 August, 2023 AD, starting from Date 01 August, 2022 AD. Eng. Abdullah bin Odeh Al-Ghabeen Al-Enezi has twenty-eight years of experience in executive management and memberships in companies in the industry and investment. He has also held several leadership positions in several companies, and is a member of the Board of Directors in a number of companies. He holds a Bachelor's degree in Mechanical Engineering from King Fahd University of Petroleum and Minerals, a Master's of Executive Directors from King Fahd University of Petroleum and Minerals, and a Higher Management Diploma from Hill University, UK. Announcement • Jul 19
Al Jouf Cement Company Announces the Resignation of Mohammed Bin Saeed Attia, Chairman of the Board of Directors Al-Jouf Cement Company announced that its Board of Directors has agreed to accept the resignation of Engineer /Mohammed bin Saeed Attia, Chairman of the Board of Directors (non-executive), from his position and his appointment as a part-time consultant, until the end of the current board session on August 5, 2023 AD. Effective date of resignation is July 31, 2022. Announcement • Jun 01
Al Jouf Cement Company, Annual General Meeting, Jun 21, 2022 Al Jouf Cement Company, Annual General Meeting, Jun 21, 2022, at 15:30 Coordinated Universal Time. Reported Earnings • May 27
First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2022 results: EPS: ر.س0.039 (down from ر.س0.14 in 1Q 2021). Revenue: ر.س48.8m (down 28% from 1Q 2021). Net income: ر.س5.55m (down 71% from 1Q 2021). Profit margin: 11% (down from 29% in 1Q 2021). Revenue exceeded analyst estimates by 23%. Earnings per share (EPS) missed analyst estimates by 493%. Over the next year, revenue is forecast to grow 14%, compared to a 5.0% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Price Target Changed • Apr 27
Price target increased to ر.س8.70 Up from ر.س6.50, the current price target is an average from 2 analysts. New target price is 10% below last closing price of ر.س9.70. Stock is down 31% over the past year. The company is forecast to post earnings per share of ر.س0.46 next year compared to a net loss per share of ر.س1.06 last year. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 6 non-independent directors. Independent Director Othman Bin Abdullah Al-Suwaih was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Buying Opportunity • Apr 11
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be ر.س12.24, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Earnings per share has declined by 59%. Reported Earnings • Apr 04
Full year 2021 earnings: EPS and revenues miss analyst expectations Full year 2021 results: ر.س1.06 loss per share (down from ر.س0.51 loss in FY 2020). Revenue: ر.س226.5m (down 10% from FY 2020). Net loss: ر.س151.0m (loss widened 106% from FY 2020). Revenue missed analyst estimates by 6.8%. Earnings per share (EPS) were also behind analyst expectations. Over the next year, revenue is forecast to grow 25%, compared to a 7.9% growth forecast for the industry in Saudi Arabia. Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS ر.س0.026 (vs ر.س0.057 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: ر.س54.9m (down 20% from 3Q 2020). Net income: ر.س3.70m (down 55% from 3Q 2020). Profit margin: 6.7% (down from 12% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 14% per year, which means it is well ahead of earnings. Reported Earnings • Aug 25
Second quarter 2021 earnings released: EPS ر.س0.057 (vs ر.س0.051 in 2Q 2020) The company reported a decent second quarter result with improved earnings and profit margins, although revenues were weaker. Second quarter 2021 results: Revenue: ر.س53.7m (down 4.9% from 2Q 2020). Net income: ر.س8.12m (up 12% from 2Q 2020). Profit margin: 15% (up from 13% in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • May 11
First quarter 2021 earnings released: EPS ر.س0.14 (vs ر.س0.11 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: ر.س67.9m (up 15% from 1Q 2020). Net income: ر.س19.4m (up 28% from 1Q 2020). Profit margin: 29% (up from 26% in 1Q 2020). Over the last 3 years on average, earnings per share has fallen by 30% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Reported Earnings • Apr 02
Full year 2020 earnings released: ر.س0.51 loss per share (vs ر.س0.037 profit in FY 2019) The company reported a mediocre full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ر.س252.0m (up 49% from FY 2019). Net loss: ر.س73.3m (down ر.س78.6m from profit in FY 2019). Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 03
New 90-day high: ر.س11.66 The company is up 2.0% from its price of ر.س11.48 on 03 December 2020. The Saudi market is down 2.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 14% over the same period. Reported Earnings • Nov 02
Third quarter 2020 earnings released: EPS ر.س0.057 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: ر.س68.9m (up 156% from 3Q 2019). Net income: ر.س8.22m (up ر.س7.12m from 3Q 2019). Profit margin: 12% (up from 4.1% in 3Q 2019). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Analyst Estimate Surprise Post Earnings • Nov 02
Revenue beats expectations, earnings disappoint Revenue exceeded analyst estimates by 6.1%. Earnings per share (EPS) missed analyst estimates by 25%. Over the next year, revenue is expected to shrink by 8.0% compared to a 6.9% decline forecast for the Basic Materials industry in Saudi Arabia. Is New 90 Day High Low • Oct 06
New 90-day high: ر.س11.38 The company is up 26% from its price of ر.س9.02 on 08 July 2020. The Saudi market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Basic Materials industry, which is up 17% over the same period. Announcement • Sep 28
Al Jouf Cement Company Announces Demise of Abd Al-Ilah Bin Muhammad Kaaki, Vice Chairman and Chairman of the Audit Committee (A Non-Executive Member) The chairman and members of the board of directors and employees of Al-Jouf Cement Company, Mr. /Abd al-Ilah bin Muhammad Kaaki, Vice Chairman and Chairman of the Audit Committee (a non-executive member) who passed away on September 25, 2020. Is New 90 Day High Low • Sep 21
New 90-day high: ر.س10.10 The company is up 20% from its price of ر.س8.39 on 23 June 2020. The Saudi market is up 12% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Basic Materials industry, which is up 23% over the same period.